Press release

Essex man handed seven year directorship ban for not providing records to show what happened to company money

Victor Ronald Bilkey, 51, a director of Relay Carpets UK Limited, based in Benfleet, has been disqualified from acting as a company director for seven years for failing to maintain proper records for his company after giving an undertaking to the Secretary of State for Business, Innovation and Skills.

The disqualification follows an investigation by the Insolvency Service and means Mr Bilkey may not be a director of a company or be involved in the management of a company in any way for the duration of his disqualification.

Relay Carpets UK Limited traded as flooring contractors. The company became insolvent in November 2013 owing money to HMRC. Solely for the purpose of the undertaking he did not dispute that he did not maintain and / or preserve or deliver up to the liquidator sufficient accounting records for the period of trade of the company as he is required to do as a director.

Without proper accounting records for the company it was not possible to establish a number of matters, including:

  • the reasons for payments out of the company bank account, including cash withdrawals of £538,078, international payments of £25,000 and payments of £170,628 that appeared to be for personal benefit or to associated parties
  • the true level of assets and liabilities (including tax liabilities) of the company

Commenting on the disqualification, Mark Bruce a Chief Investigator with the Insolvency Service said:

The period of disqualification contained in the undertaking signed by Mr Bilkey, sends a clear message to him and to other company directors: If your company becomes insolvent and you have failed to maintain proper records that explain sufficient all the transactions of the business you run the risk of being removed from the business environment.

Notes to editors

Relay Carpets UK Ltd (Company number 07410184) was incorporated on 18 October 2010 and traded from Essex.

Victor Ronald Bilkey is of Benfleet, Essex and his date of birth is 19 December 1963.

Mr Bilkey signed an undertaken not to act in the management of a company for a period of 7 years from 23 June 2015.

One of the main purposes of the Company Directors Disqualification Act is to ensure that proper standards of conduct of company directors are maintained and to raise those standards where appropriate.

A disqualification order has the effect that without specific permission of a court, a person with a disqualification cannot:

  • act as a director of a company
  • take part, directly or indirectly, in the promotion, formation or management of a company or limited liability partnership
  • be a receiver of a company’s property

In addition that person cannot act as an insolvency practitioner and there are many other restrictions are placed on disqualified directors by other regulations.

Disqualification undertakings are the administrative equivalent of a disqualification order but do not involve court proceedings. Further information on director disqualifications and restrictions is available.

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